PennyMac Mortgage Investment Trust allocates equity across three principal investment strategies. In contrast to robust earnings since Q1 2023, Q1 2025 results were impacted by mark-to-market losses, resulting in poor preferred dividend coverage. Even so, the cumulative nature of preferred dividends and strong underlying profitability have allowed PennyMac to pay preferred dividends in full in recent years.
PMTW is PennyMac Mortgage Investment Trust's new 9% Senior Notes due 2030, offering high-yield distributions at the cost of substantial credit risk. PennyMac Mortgage is highly leveraged, with significant secured debt and a weak equity buffer, raising concerns for unsecured noteholders in liquidation scenarios. The increasing risk premium on each new senior note issue signals rising perceived risk by both underwriters and the market.
PennyMac Mortgage Investment Trust gets a 'Hold' rating for my initial coverage. Loan origination and servicing growth provide upside, yet high reliance on leverage and a below-investment-grade rating from Fitch make me cautious. Despite profits and solid margins, dividend growth has been negative over 10 years, making it less attractive for growth-focused investors.
![]() PMT In 5 days Estimated | Quarterly | $0.4 Per Share |
![]() PMT 2 months ago Paid | Quarterly | $0.4 Per Share |
![]() PMT 6 months ago Paid | Quarterly | $0.4 Per Share |
![]() PMT 8 months ago Paid | Quarterly | $0.4 Per Share |
![]() PMT 11 months ago Paid | Quarterly | $0.4 Per Share |
![]() PMT 11 Apr 2024 Paid | Quarterly | $0.4 Per Share |
21 Jul 2025 (In 2 weeks) Date | | 0.37 Cons. EPS | - EPS |
22 Apr 2025 Date | | - Cons. EPS | - EPS |
30 Jan 2025 Date | | 0.37 Cons. EPS | 0.41 EPS |
24 Oct 2024 Date | | 0.34 Cons. EPS | - EPS |
22 Oct 2024 Date | | 0.36 Cons. EPS | 0.36 EPS |
![]() PMT In 5 days Estimated | Quarterly | $0.4 Per Share |
![]() PMT 2 months ago Paid | Quarterly | $0.4 Per Share |
![]() PMT 6 months ago Paid | Quarterly | $0.4 Per Share |
![]() PMT 8 months ago Paid | Quarterly | $0.4 Per Share |
![]() PMT 11 months ago Paid | Quarterly | $0.4 Per Share |
![]() PMT 11 Apr 2024 Paid | Quarterly | $0.4 Per Share |
21 Jul 2025 (In 2 weeks) Date | | 0.37 Cons. EPS | - EPS |
22 Apr 2025 Date | | - Cons. EPS | - EPS |
30 Jan 2025 Date | | 0.37 Cons. EPS | 0.41 EPS |
24 Oct 2024 Date | | 0.34 Cons. EPS | - EPS |
22 Oct 2024 Date | | 0.36 Cons. EPS | 0.36 EPS |
REIT - Mortgage Industry | Real Estate Sector | David A. Spector CEO | XSTU Exchange | US70931T1034 ISIN |
US Country | 7 Employees | 11 Apr 2025 Last Dividend | - Last Split | 30 Jul 2009 IPO Date |
PennyMac Mortgage Investment Trust is a company focused on investing in mortgage-related assets within the United States. Founded in 2009 and with its headquarters in Westlake Village, California, it operates through various segments, including Credit Sensitive Strategies, Interest Rate Sensitive Strategies, and Correspondent Production. PennyMac qualifies as a real estate investment trust (REIT), making it largely exempt from federal corporate income taxes, provided it distributes at least 90% of its taxable income to shareholders.
PennyMac Mortgage Investment Trust offers a diverse range of products and services across different segments: